Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1887-09-08
The Great Railroad ex.President and
FiHancier May Once More
Dictate.
Purchase of Oregon Transcontinental
Stock Gives Him Power in Trans
porlation Circles.
Baltimore and Ohio Express Swallow
ed Up by the United States
Company.


] ohVVS AZ Woulu seem that henry WIZARD =
star was again in the ascendant. For
several days past Wall street has been
gossipiug about the coming election OF
the Northern Pacific, over which there is
the ussal fight, but to-day the spectators
were surprised and startled to hear that
Henry Willard had bought for tho German
syndicate, Tor which he is agent, So
100000 interest in the stocks and bonds
of the Oregon Railway and Navigation
company, which is the property of the
! Oregon Transcontinental. All sorts of
rumors were circulated about the trans
action, and it was even stated that Mr..
Willard had obtained control of both the
| Oregon Railway and Navigation company
and the Oregon Transcontinental roads.
No one krew exactly how to interpret the
move. Some said that il was flank
movement of the Oregon Transconti-
mental people TO outwit the Northern Pa
citic officials, while others claimed that
Elijah Smith had been caught mapping
and had been attacked from an unex-
pected quarter. The point of the whole
matter seems TO be, however, that MIR.
Willard, for the foreign syndicate, headed
by the Deutsche bank, negotiated for the
purchase of three millions of the Oregon
navigation honos which they had been
unable TO place satisfactorily, and which
they held for advances, also a million of
the guaranteed stock OF the same com
pany with an option OF two millions
more. Thus the Oregon Transcontinental
receives little more than
FIVE MILLIONS
in cash, OF which part has already been
paid, gets rid of a block of bonds for
which 10 had no present sale, and at the
Same time parts with big block of
of Oregon navigation stock. IT will be
enabled TO make up largo amount OF its
bills payable, dispose OF those obliga-
tons which fell due this year, and tide
itself over another period until IL has
need OF more ready cash.
TUE DEAL is PECULIAR IN THIS
that IL seems satisfactory to all parties
or course Insults the seller, for he found
purchaser without being compelled TO
sacrifice anything, At the same time the
Northern Pacific people are perfectly vii.
ling 10 see Mr., Willard come into power
| again. They have NO enmity against him
and would undoubtedly welcome him
back backed as he is by powerful syn.
dictate who have never lost faith in him
and would give him q new financial back
ing.
President Harris seems perfectly well
satisfied with the turn the matter has
taken, and it looks as If there would be n
way out of very tight hole for all par.
ties. OF course Mr., Willard returns to the
board of two companies of which he wa.
once President - that is, if he cares TO
and what would be more natural than
that he should take place in the North
ern Pacific, OF which he was once Presi-
dent, as the representative of the large
interest which he has acquired That
is the way that il seems TO run.
Elijah Smith could net elect his own
board, but by compromise he may get
Mr.. Willard back again with one or two
other people who would not be OBJ
noxious TO the rest of the board.
Then, too, Mr.. Willard would be in n po-
sition so as to harmonic matters that all
might be satisfied and change brought
about that would benefit the interest Of
all concerned That is the conclusion
arrived at by some clear headed men on
the street, but it must be admitted that
no one seems to understand exactly the
significance of the move, if it has any
in connection with the Northern Pacific
annual election.
ELIJAH SMITHS friends DECLARE
that il was great move on his part. The
| Oregon Navigation's debts were pressing
and unless they were paid he could devote
little attention to any other matters. He
| had one million Of bonds in the safe,
and now that he has found a ready cash
purchaser, he is able TO meet the com
pany's obligations, thus giving him a
clear field. Mr.. Smith himself was lock
ed up in his Office all day but when seen
/ for a moment, positively declined to
either confirm or deny the story.
! A visit to Mr.. Wizards Office met with
no better success. The great fnancier
could not be seen at all, AZ least not to-
day. The Northern Pacific people, bow
/ ever, seemed rather pleased over the
whole affair. They declare that the Of
| feet Of the transaction, if it really has
been made, will be favorable to them in
the annual election, and they have no
| fear OF the result.
! President Harris declined to say any
thing definite about the alleged deal, bat
when pressed for his opinion OF its ef
/ Itcb Oh TIC IbiHtlpAn Va AAAt +'|thtAN 80 = -
cific and the Oregon Iranscontinental
people, said with a smile
"There is a general idea that when the
Oregon Transcontinental people start
out as reformers they never succeed"
| Then he added significantly They were
! just now going TO reform the Northern
! Pacific
There is disposition in some quar-
tiers tonight TO deny the trlth of the al
/ legged deal, but your press correspondent
was told to-day by one Of the highest Of
ficials in the old Willard properties that
| il was certainly a fact, and the story was
given out as official on Wall street.
This is Henry Wizards first big deal
since his return 70 this country, although
! he had little interest in the Cincinnati,
Hamilton d Dayton matter. u "a not an.
likely that his advent in the railroad
world will make matters hum in wall
street for few days.
Svmptoms and Taeif Indications.